BankNifty Intraday Trade Setup | 20th Jan '24

Today BankNifty opened with a gap-up around 46100 and after making a high around 46250, it gave a 600+ points fall from higher levels towards 45550. BankNifty is looking bearish in comparison to Nifty and if it fails to hold 45500 on closing basis, we may see another fresh selling.

For tomorrow, BankNifty has to sustain above 45940 for further upside which can take BankNifty towards 46060 and upper levels. On the other side, if BankNifty breaks 45500 on downside, we expect to see 45370 and below marked levels on the chart.

Expectations: Volatile day.

Intraday Levels:
Buy Above - 45940
Sell Below - 45500

To motivate us, Please like the idea If you agree with the analysis.

Happy Trading!
InvestPro India Team